LOS ANGELES--(BUSINESS WIRE)--Glancy
Prongay & Murray LLP (“GPM”) reminds investors of the April
16, 2018 deadline to file a lead plaintiff motion in the class
action filed on behalf of investors that purchased Quantum Corporation
(“Quantum” or the “Company”) (NYSE: QTM)
securities between May 10, 2016 and February 7, 2018, inclusive
(the “Class Period”). Quantum investors have until April 16,
2018 to file a lead plaintiff motion.

To obtain information or actively participate in the class action,
please visit the Quantum page on our website at www.glancylaw.com/case/quantum-corporation.
Investors that suffered losses on their Quantum investments are
encouraged to contact Lesley Portnoy of GPM to discuss their legal
rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.

On February 8, 2018 Quantum issued a press release entitled “Quantum
Corporation Postpones Earnings Conference Call.” Therein, the Company
stated that it was “postponing release of its fiscal third quarter 2018
results and its earnings conference call, which were scheduled for this
afternoon.” The press release further detailed the cause for the
postponement of earnings, “[o]n Jan. 11, 2018, Quantum received a
subpoena from the SEC regarding its accounting practices and internal
controls related to revenue recognition for transactions commencing
April 1, 2016. Following receipt of the SEC subpoena, the company’s
audit committee began an independent investigation with the assistance
of independent advisors, which is currently in process. Because the
audit committee’s investigation is ongoing, Quantum decided it was
prudent to postpone its quarterly results release and conference call,
pending conclusion of the investigation. The company is cooperating with
the SEC and cannot predict the timing of completion or outcome of either
the audit committee’s investigation or the SEC’s inquiry at this time.”

On this news, the Company’s stock price fell $1.67 per share, or nearly
30%, to close at $3.90 per share on February 8, 2018, thereby injuring
investors.

The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose: (1) that Quantum was inappropriately
recognizing certain revenues since at least April 2016; (2) that the
Company lacked adequate controls over accounting and financial
reporting; (3) that as a result the Company was subject to increased
regulatory scrutiny and potential fines; and, (4) that, as a result of
the foregoing, Defendants’ statements about Quantum’ business,
operations, and prospects, were materially false and/or misleading
and/or lacked a reasonable basis.

If you purchased shares of Quantum, you may move the Court no later than April
16, 2018 to ask the Court to appoint you as lead plaintiff. To be a
member of the Class you need not take any action at this time; you may
retain counsel of your choice or take no action and remain an absent
member of the Class. If you wish to learn more about this action, or if
you have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Lesley
Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los
Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by
email to shareholders@glancylaw.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.